World’s largest wealth fund rejects Musk’s $1tn payout
Update: 2025-11-04
Description
Norway's sovereign wealth fund, the world's largest, opposes Tesla's CEO Elon Musk's massive pay package, worth up to one trillion dollars. The deal, which could give Musk a twelve percent stake in Tesla if it reaches a value of over eight and a half trillion dollars in the next decade, has been criticized for not being clearly tied to exceptional performance. Other major shareholders, including advisory firms and pension funds, also oppose the plan. Musk has criticized these groups, and the Tesla board has warned that the risk of losing Musk at the helm is real. The annual shareholder meeting, where the vote will take place, is approaching, and the outcome will reveal the balance between celebrity leadership and responsible corporate governance at Tesla.
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